Purepoint Uranium Releases Airborne Electromagnetic Results for Tabbernor Project

Toronto, Ontario--(Newsfile Corp. - May 2, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today provided results from a helicopter-borne versatile time domain electromagnetic (VTEM) survey across its 100% owned Tabbernor Project that lies on the eastern edge of the Athabasca Basin, Saskatchewan Canada.

"Our Tabbernor VTEM survey has provided us with excellent first-pass exploration target areas; strong EM conductors located within structurally complex zones," said Scott Frostad, Purepoint's VP of Exploration. "Prior to releasing these results, we were able to stake additional ground encompassing a projected conductive trend in the central area and in doing so, our three distinctive projects (Midbear, JebRaven and ColinEagle) are now a single continuous project, known as the Tabbernor Project ("Tabbernor"). Our scheduled 2023 plan for Tabbernor includes follow-up airborne geophysics and geological field mapping of select areas as we advance the project to a drill-ready state."

Highlights

• Purepoint has completed its initial review of the 2,962 line-kilometre, VTEM survey conducted across its Tabbernor Project;
• Over 70 kilometres of EM conductors within seven target areas were outlined from the VTEM results;
• Follow-up airborne geophysics and field mapping planned for this year;
• The Tabbernor Fault System runs north-south for approximately 1,500 km and is associated with gold and uranium discoveries that includes North America's largest gold mine.

The Tabbernor Project covers three north-south trending structural corridors that Purepoint has interpreted as being associated with uranium mines/deposits located to the north (Figure 1). Interpretation of the 2022 VTEM geophysical results show the project hosts three belts of east-northeast trending conductive rocks with over 70 kilometres of total conductor strike length being identified (Figure 2). The 2,962 line-kilometre VTEM survey was flown by GeoTech of Richmond, ON and the results were interpreted by Condor North Consulting ULC of Vancouver, BC.

Figure 1: Tabbernor Project Location Map

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Figure 2: 2022 VTEM Survey Results

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Tabbernor Project

The 100% owned Tabbernor Project was staked along three major trends of the Tabbernor Fault System, a deep seated, 1,500 kilometre crustal shear system that runs north through the Athabasca Basin. The system not only hosts over 80 historic mines and gold occurrences but as well cross cuts the Basin's mine trend aligning itself with 8 of the Basin's largest uranium discoveries.

The Tabbernor Project consists of 31 claims that total 70,598 hectares. The original block of three north-south claim groups (23 claims) that covered Tabbernor structures have now been joined by an additional 8 claims that cover a strong east-northeast trending belt of conductive rocks.

Tabbernor Fault System

The Tabbernor Fault System (TFS) is a wide, >1,500 km geophysical, topographic, and geological structural zone that trends approximately northward along Saskatchewan's eastern boundary. Purepoint's research has shown that although none of the province's currently known uranium deposits have been linked to the north-south trending TFS, localized shear zones hosting uranium mineralization may have an associated north-south structural component.

Reactivation of the TFS may have coincided with the age of formation of large uranium deposits in the Athabasca Basin (Davies, 1998). Davies also concluded that structural similarities between the TFS and mineralized areas suggest that the fault system may have had a control on the location of mineralization. More specifically, he considered that several deposits, such as the Sue, Midwest, Dawn Lake and Rabbit Lake all demonstrate a north-south control and strong Tabbernor-like characteristics.

Purepoint has staked claims to the south of the Athabasca Basin based on interpreted north-south lineaments linking the Key Lake and Millennium deposits, the Midwest and West Bear deposits, the Jeb and Raven deposits, and the Collins Bay and Eagle Point deposits.

Reference:

Davies, J.R. (1998): The origin, structural style, and reactivation history of the Tabbernor fault zone, Saskatchewan, Canada; Master's thesis, McGill University, Montreal, Quebec, 105p.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 10 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds eight, 100% owned projects with proven uranium rich targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world's richest uranium district.

Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information, please visit our new website at https://purepoint.ca, our Twitter feed @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of the future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

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